A stop of 26K was triggered at around 11:40. The market went from 10124 to to 10201 and back to 10124 in a couple of minutes. Anyone on the floor know what happened? I think someone has to type in the wrong quantity. How can you put a stop for 26K when the market is doing less than 200K a day 2 hours before the FOMC? I think the guy/fund who bought it at the stop must be crying now or he knows in advance the FED is done. We'll see!
I saw the move happen....took the near eurodollars with them a couple of ticks and then back to reality. The people that got screwed were those trading curve with auto-spreaders. They most likely paid up and then saw everything come back. Farther out treasuries did next to nothing. Nice gift for resting orders above i guess. That is all. BigMike